LAUREATE EDUCATION, INC. — Director's Dealing 2022

May 27, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LAUREATE EDUCATION, INC. (LAUR)
CIK: 0000912766
Period of Report: 2022-05-25

Reporting Person: Snow Ian Kendell (Director, 10% Owner)
Reporting Person: SPG GP, LLC (Director, 10% Owner)
Reporting Person: SPG Co-Investment, L.P. (Director, 10% Owner)
Reporting Person: Snow Phipps Group (Offshore), L.P. (Director, 10% Owner)
Reporting Person: Snow Phipps Group (RPV), L.P. (Director, 10% Owner)
Reporting Person: Snow Phipps Group, LLC (Director, 10% Owner)
Reporting Person: Snow Phipps Group, L.P. (Director, 10% Owner)
Reporting Person: Snow Phipps Group (B), L.P. (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-05-25	Common Stock	A	9177	$0.00	Acquired	33418	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2841835	Indirect
Common Stock	2071338	Indirect

Footnotes

F1: Reflects a grant of 2,174 shares of common stock and 7,003 restricted stock units ("RSUs") as part of the 2022 annual retainer for non-employee director service. The RSUs will vest as follows, provided that the Reporting Person continues to serve as a director of Laureate Education, Inc.: 2,713 RSUs vest on June 30, 2022 and 2,415 RSUs vest on each of September 30, 2022 and December 31, 2022.

F2: Snow Phipps Group, LLC, Snow Phipps Group (Offshore), L.P., Snow Phipps Group (B), L.P., Snow Phipps Group, L.P ., and Snow Phipps Group (RPV), L.P. beneficially own such shares indirectly as a result of contractual arrangements with Mr. Snow. Mr. Snow disclaims beneficial ownership of the securities to the extent it exceeds his pecuniary interest therein and the inclusion of the securities in this report shall not be deemed to be an admission of beneficial ownership of the reported securities for the purposes of Section 16 of the Exchange Act or otherwise.

F3: Represents shares of Common Stock held directly by Wengen Alberta, Limited Partnership ("Wengen"), whose general partner is Wengen Investments Limited. Certain investors, including, but not limited to, certain investment funds and other persons affiliated with or managed by Sterling Fund Management, LLC, Cohen Private Ventures, LLC and Snow Phipps Group, LLC have interests in the Issuer through Wengen.

F4: Represents shares of Common Stock held directly by SPG GP, LLC, SPG Co-Investment, L.P., Snow Phipps Group (Offshore), L.P., Snow Phipps Group (B), L.P., Snow Phipps Group, L.P., Snow Phipps Group, LLC and Snow Phipps Group (RPV), L.P.